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Oil products

Oil products, also known as petroleum products, are the result of refining crude oil in oil refineries. Crude oil is a complex mixture of hydrocarbons that can be processed to create a wide range of products with various uses. The composition of crude oil can vary significantly, which influences the types and quantities of products that can be derived from it.

During the refining process, crude oil is heated, and different hydrocarbons are separated based on their boiling points. This process is known as fractional distillation. The resulting oil products include light distillates like liquefied petroleum gas (LPG), naphtha, and gasoline; middle distillates like kerosene, diesel, and jet fuel; and heavy ends like fuel oil, lubricating oils, waxes, asphalt, and tar. These products have numerous applications in diverse sectors such as transportation, industry, heating, electricity generation, and the production of chemicals and plastics.

To learn more about oil products, consider visiting these reputable sources:

1. U.S. Energy Information Administration (EIA) – The EIA provides comprehensive information on various oil products, their uses, and data on production, consumption, and inventories. It is a reliable source for understanding the industry trends and specifics of oil product markets.

2. International Energy Agency (IEA) – The IEA offers in-depth analysis, reports, and statistics on the global energy market, including oil products. It is an excellent resource for anyone seeking to understand the international perspective on energy, oil product demand, and policy implications.

Please note that web links are subject to change over time, and while they are active as of my knowledge cutoff date in 2023, their status may change in the future.

This A.I.-generated glossary is intended to provide a convenient means to understand terminology used on this website in the context of physical commodities trading. Some terms may have alternative and/or expanded definitions that may not be relevant here and thus not included. Sources provided are for reference and not intended to be an endorsement of the broader content on that website. Suggestions, questions, or corrections can be provided in the comment box on definition pages.